Morgan Stanley Downgrades Regis Resources (OTCMKTS:RGRNF) to Sell

Regis Resources (OTCMKTS:RGRNFGet Rating) was downgraded by investment analysts at Morgan Stanley to a “sell” rating in a note issued to investors on Thursday, TipRanks reports. They presently have a $2.30 target price on the stock. Morgan Stanley’s price target suggests a potential upside of 91.67% from the stock’s previous close.

Separately, Citigroup cut shares of Regis Resources to a “sell” rating and set a $1.90 price objective for the company. in a report on Thursday, June 9th.

Shares of OTCMKTS:RGRNF traded down $0.06 during trading on Thursday, reaching $1.20. 10,400 shares of the stock traded hands, compared to its average volume of 17,438. The stock has a 50-day moving average of $1.41 and a two-hundred day moving average of $1.42. Regis Resources has a 52-week low of $1.18 and a 52-week high of $2.00.

About Regis Resources (Get Rating)

Regis Resources Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of gold projects in Australia. It owns 100% interests in the Duketon gold project located in the North Eastern Goldfields of Western Australia; and the McPhillamys gold project situated in the Central Western region of New South Wales.

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